1.8 CONCLUSION

Both entrepreneur and entrepreneurship have their own privileges. For that, focused attention and recommendation should be given especially to the younger generation to choose entrepreneurship as a career. The question is, do you want to be an Entrepreneur? Being an entrepreneur is an extremely challenging venture. However, despite that, you can see innumerable entrepreneurs who are successful in their businesses. With proper skills and character development as well as entrepreneurial support programs by the government, a Malaysian entrepreneur and the founder of Tune Air Sdn Bhd who introduced the first budget no-frills airline, AirAsia.

1.7 OVERVIEW OF ENTREPRENEURSHIP PROGRAMMES IN MALAYSIA

During the period of the Ninth Malaysia Plan (2006 – 2010), a total of RM 26 billion was spent in entrepreneurship development programs, representing 11.6% of the total development expenditure during the period. The programs were aimed to address constraints faced by entrepreneurs and are categorized under three strategic thrusts, namely enhancing access to financing; building capacity and capability; and strengthening infrastructure. In 2013, the Government is implemented a total of 139 programs with financial commitment of RM 9.9 billion. In addition, the Government has been working together with the private sectors in undertaking another 15 programs accounting to a total of RM 8.5 billion. Altogether, there are 154 programs accounting to a total of RM 18.4 billion. The allocation of the funds for the development of entrepreneurship is brought to attention in the Tenth Malaysia Plan (2011 – 2015). Information about the government’s efforts to bring up the nation towards a high-income country that involved the empowerment of entrepreneurs indirectly is stated in each chapter of this plan. Strategies and programs for nation empowerment through entrepreneurship development are also asserted.

Examples of entrepreneurship programs for the empowerment are:

·         MaGIC

Recently, in October 11, 2013, RM 50 million (US$15.8 million) was allocated to establish the Malaysian Global Innovation and Creativity Centre (MaGIC), a one-stop center to empower entrepreneurs. MaGIC monitors the performance of entrepreneurs, houses an integrated database as well as incubators; assists with the patenting of intellectual property; provides funding facilities and a business-matching process. It also guides, counsels and trains entrepreneurs all under one roof. MaGIC sits under the National Entrepreneur Development Office, a new unit that is established under the National Strategy Unit of the Ministry of Finance, which plans and coordinates all activities related to entrepreneurship.

·         1Malaysia Entrepreneurs (1Met)

With the intention to make Malaysia “an Entrepreneurial Nation”, a program called 1Malaysia Entrepreneurs (1Met) was implemented to expose entrepreneurship to youths interested in venturing into business. The target is to train 5,000 young entrepreneurs yearly, with MaGIC playing a key role. The support of entrepreneurship is front and center for the Malaysian Government, and that is great news for the ecosystem.

·         Corporate Accelerator Program

Telekom Malaysia has been working with the Multimedia Development Corporation (MDeC) StartupMalaysia.org in introducing the first corporate accelerator program in Malaysia. This program to “help accelerates the growth trajectory of high potential digital entrepreneur start-up companies to tap global demand with innovative products and services”.

·         Pre-Commercialization Fund

The Pre-Commercialization Fund is an existing program implemented by the Ministry of Science, Technology and Innovation (MOSTI) to assist entrepreneurs in developing new or improving the existing possesses, technologies or products to be commercialized. This program also aims at creating an environment to encourage ecopreneurs, by increasing the application of innovative technologies in communities as a social responsibility. Total allocation of RM30 billion has been approved for this program, which aims to develop 25 projects with potential to commercialization’s. MOSTI through Multimedia Development Corporation (MDeC) will continue to implement the MSC Malaysia Cloud Initiative, targeted to undertake a series of 10 awareness campaigns which include a showcase to entrepreneurship and awareness on cloud application. A total of 1,300 entrepreneurs are expected to participate in this program. MOSTI through the Malaysian Technology Development Corporation (MTDC) will continue to implement the Commercialization of R&D Fund from the previous year, with an approved RM100 million to benefit 15 entrepreneurs and achieve 20 Intellectual Properties (IPs) that can be commercialized.

·         Specialized Food Processing Course

The Ministry of Industrial Development Sabah (MID Sabah) has conducted a Specialized Food Processing Course to upgrade and increase the skills and expertise of entrepreneurs to process food and improve the quality of food products. A total of six sessions that has been conducted, attracting an estimated 30 entrepreneurs to commence business.

·         Entrepreneurship Development for Orang Asli Community

The Ministry of Rural and Regional Development (MRRD) and Jabatan Kemajuan Orang Asli (JAKOA) will conduct the Entrepreneurship Development Program for Orang Asli Community. It is designed to increase Orang Asli participation in entrepreneurship via the provision of training and skills upgrading in various fields. A total of 200 entrepreneurs are expected to be trained, enabling 60% of participants to earn more than RM 1,000 per month within a year.

·         Incubator Skills Training for Single Mothers (I-KIT)

The Ministry of Women, Family and Community Development (MWFCD) through the Department of Women Development organized the Incubator Skills Training for Single Mothers (I-KIT) in 2013, to generate an expected 50% increase in income for single mothers. Meanwhile, the Women Entrepreneurship Incubator Program (I-KeuNITA) by MWFCD provided intensive skills training and entrepreneurship assistance for low-income women within the areas of sewing, beauty therapy, commercial cooking crafts, childcare and travel. A total of RM10 million has been allocated for these programs with 60 planned training sessions.

·         Exporters Training Program

The Ministry of International Trade and Industry (MITI) through the Malaysia External Trade Development Corporation (MATRADE) implemented the Exporters Training Program to equip potential entrepreneurs to be exporters with necessary knowledge and skills. A total of 40 seminars, targeting to equip the participating entrepreneurs with enhanced knowledge on export-related areas are organized under this program. Meanwhile, MITI together with SME Corporation Malaysia (SME Corp. Malaysia), will continue to enhance entrepreneurs’ knowledge in production, sales & marketing, and Halal-related matters for the food and beverage industry, through the sharing of Nestle’s best practices under the SME Mentoring Program.

·         Youth Entrepreneurship Program (Business and Agriculture Business)

The National Youth and Sports Department under the Ministry of Youth and Sports (MOYS), and the Youth Entrepreneurship Program (Business and Agriculture Business) offers courses in basic entrepreneurship in labelling and packaging technology, Smart Partnership and Technical Agriculture. A total of 41 programs have been planned, targeting, 1,000 participants to be exposed of entrepreneurship.

·         Entrepreneurship Sector of Entrepreneur Development (ESED)

The role of ESED is to empower Bumiputera entrepreneurs under the supervision of MARA one of the programs offered by ESED is Entrepreneurship Training Program, which serves to build up the continuance of entrepreneurs including their development and steadfast. Apart from that, Business Advice Service Scheme Program is offered to help entrepreneurs in solving the problems that they face/ the guidance is provided by a panel of MARA facilitators. Next is the Marketing Development Program which aims to help the Bumiputera entrepreneurs that are involved in various kinds of product to explore and seize market opportunities, expand the existing market size and increase the competitiveness in the market. ESED also offers Technopreneur Development Program and it is concerned with entrepreneurships that use and apply technology expertise in productions, service, business management and decision-making. The objective of this program is to increase the capacity and capability of entrepreneurs for small and medium enterprises (PKS) and large (Large Company) according to their respective classes which are implemented through the collaboration between Technology Smart-Partner and MARA with Higher Education Institutions (HEI) and Private Institutions that has the expertise based on research and strategic technology.

·         Sponsored Program by SME Corp Malaysia

SME Corp organizes several programs that aim to expand the number of entrepreneurs, particularly Bumiputera entrepreneurs. Among the programs offered by SME Corp Malaysia are Enrichment and Enhancement Program; Business Accelerator Program (BAP); SME-University Internship Program; SME Emergency Fund and several others. This program enables Micro Enterprise to be assisted through and integrated approach with guidance, including strengthening their core business, building capacity and capability, and facilitating access to financing Applicants receive business and technical advisory services, aimed at enhancing their business potential.

·         Sponsored Program by TEKUN

In 2015, Tekun allocated a sum of RM350 million to 33,000 Bumiputera entrepreneurs; RM50 million is assigned to the Young Indian Entrepreneurs Scheme Fund; RM50 million to the Professional Young Women Entrepreneur Development Program to finance the 5,000 professional women money borrowers and RM50 million has been allocated to the Ex-Army Entrepreneur Development Program to a total of 5,000 former soldiers who are not entitled for pension.

·         Cyberjaya Living Lab Accelerator Program

An initiative by Cyberview Sdn Bhd, an entity owned by Minister of Finance entrusted ti develop Cyberjaya to develop accelerated entrepreneurs from the ideation stage, innovation to commercialization stage by providing industrial networks through mentoring, venture/market acceleration program and market access opportunity. Through the Living Lab program, Cyberjaya will be the catalyst and test bed for entrepreneurs to move up the value chain and facilitation towards commercialization of the products or services. More information can be found from the website www.cyberjaya.com.my/join-tech-hub/accelerator.

·         Khazanah Nasional Entrepreneurship Outreach (KNEO)

The Khazanah nasional Entrepreneurship Outreach is a program initiated by Khazanah Nasional aimed to unearth entrepreneurial talent in Malaysia while equipping the with vital training and industry information via a series of boot camp and accelerator programs. The interested terms should fill up a simple application form as well as to provide a 2-minute video detailing the team’s idea and vision of their startup. The team requires a minimum of two members. Further information can be obtained from KNEO website www.khazanahneo.com.my.

1.6 CHARACTHERISTIC OF SUCCESSFUL ENTREPRENEURS

Successful entrepreneurs are said to have characteristics and self-profile that are unique, extraordinary and have the entrepreneurship skills in the aspect of having the ability and skills of performing such effective functions. The experience and knowledge owned by entrepreneurs, enable them to view, analyze and take advantage of business opportunities that are not seen by other (Norasmah and Mohd Hasril 2014). Characteristics of successful entrepreneurs listed by McClelland (1985) are as follows:

a)       Self-initiative

b)      Able to see and seize opportunities

c)       Perseverance

d)      Able to find information

e)       Priorities a high-quality work

f)       Have high commitment

g)      Have a systematic plan

h)      Able to solve problems creatively

i)        Self confidence

j)        Firm

k)      Able to convince others

l)        Able to influence by using strategies

Kuratko (2009) has listed eleven key features that should be acquired by entrepreneurs:

a)       Able to demonstrate commitment, determination and perseverance

b)      Driven to succeed and thrive

c)       Orientation to opportunities and goals

d)      Have the initiative and personal responsibility

e)       Able to solve problem continuously

f)       Realistic

g)      Able to find and make use of feedback

h)      Have internal locus of control

i)        Dare to take risks

j)        Driven toward power and status

k)      Have integrity and reliable

Norashidah et al. (2009) through the study of six entrepreneurs from small and medium industry, has identified a set of characteristics that can bring success to entrepreneurs. The identified characteristics are:

a)       Aiming for self-excellence

b)      Have the basic knowledge and skills in business

c)       Able to make an advance plan about marketing strategy

d)      Always try to increase knowledge on entrepreneurship that is involved

e)       Dare to risks, able to control self, have spiritual strength and self-esteem, creative and innovative

f)       Possess communication skills and ability to maintain good relationships with stakeholders such as banks, suppliers, customers, partners and shareholders.

Based on the above lists, it can be deduced that entrepreneurs often share many common characteristics that really can separate them from non-entrepreneurs. Figure 1.3 shows 10 common characteristics of entrepreneurs. It describes what individuals need to do be a successful entrepreneur.

Self-awareness	Know your personal brand
Risk orientation	Take on challenges
Creative thinking	Think through possibilities and practicalities
Advocacy	Promote the business
Profit orientation	Focus on Business Outcomes
Learner	Be a perpetual learner of your business
Self-efficiency	Be self-reliant
Activator	Be a self-starter
Delegator	Multiply yourself through delegation
Relationship	Build relationships

Figure 1.2: Common characteristics of entrepreneurs.

Self-Awareness

Entrepreneurs know their personal brand. They know themselves well and so they have their own belief to perceive others accurately. They are able to encourage confidence and support from others because of their authenticity and are able to align employee activities to their strengths.

Risk Orientation

Successful entrepreneurs are willing to take on challenges. They are optimistic, comfortable with ambiguities, resist constraints and pull the business forward through their decisions. Their business often stands to benefit from the opportunities they grasped. Entrepreneurs are daring individuals that are willing to take calculated risks when necessary. People who are confident, positive thinkers, and always believe in themselves are usually great entrepreneurs. Entrepreneurs must believe and do everything possible in order to succeed. For some reason many people are extremely scared of failure. Entrepreneurs on the other hand understand that everyone fails and it is part of the process.

Creative Thinking

Entrepreneurs are extremely creative. The best entrepreneurs are the ones who are driven by passion. They could think through possibilities and practicalities. Their minds are often firing with ideas. They can imagine what could be and so create a space that can be filled with commercialized ideas. Entrepreneurs love what they do and are extremely passionate about seeing their ideas succeed on a grand scale. The best thing about entrepreneurs is that they are self-starters. They are free-spirits who embrace the freedom to do whatever they want. Through their freedom and creative spirit, they can create amazing things.

Advocacy

Entrepreneurs always promote their business. They are the spokesperson for their company, persuasive and clear communications. They are able to persuade others to accept their point of view and gain commitments that enable the business to flourish.

Profit Orientation

Entrepreneurs always focus on their business outcomes. They are oriented toward quantifiable goals, measurable progress and performance. They will make sure that their businesses are efficient and profitable. Whether they are trying to change the world, achieve financial freedom, or simply do what they love, entrepreneurs have a deeper motivation to succeed. If you are determined to succeed and achieve your goals, you eventually will! The best entrepreneurs are the ones who want to accomplish something more than anything else.

Learner

Entrepreneurs are hungry for a better life. They always try to be a perpetual learner of their business. They constantly seek knowledge that is relevant to their businesses. They will ensure business growth through smart improvements.

Self-Efficacy

Entrepreneurs are self-reliant. They are resilient, willing to fill multiple roles to meet their needs. They will ensure the survival of their start-ups. Successful entrepreneurs have a burning desire to succeed and achieve their purpose. If you strive to be the greatest in something, you are definitely thinking like an entrepreneur. As an entrepreneur, the difference between success and failure is how you react to a ‘No’ answer. Most people take the ‘No’ answers and live it, while others refuse to accept it. Successful entrepreneurs never live with a ‘No’ answer. They will do whatever it takes to get what they need.

Activator

Successful entrepreneurs are self-starters. Entrepreneurs are hard-working individuals. Many of them can be found working long hours through the night because they are truly passionate about what they are doing. People who are willing to put in a 110% into everything they do make the best entrepreneurs. In other words, they are workaholic and always try to push things to make it happen. They are opportunity and start-up oriented.

Delegator

Entrepreneurs often multiply themselves through delegation. They can easily delegate authority and become a good team manager. They stress in the importance of relationship to easily gain access to capital and other resources for their business.

Relationship

Successful entrepreneurs always try to build relationship. They can form and maintain deep social ties and networks. They stress on the importance of relationship to easily gain access to capital and other resources for their business.

1.5 WHY DO PEOPLE BECOME ENTREPRENEURS?

There are many factors and reasons associated with why people become entrepreneurs. According to Hizam Hanafiah (2012), there are four main reasons on why people choose to become entrepreneurs:

a)       Desire to be independent. In detail, people prefer being their own boss, having direct control over their working life, and appreciate their capacity to make decisions.

b)      Ability to fulfil personal goals and interests, such as receiving a certain level of personal income, specific return on investment for funds invested, and apply their enthusiasm.

c)       Potential financial opportunities such as high profit and better income.

d)      Family matter. It is also important as the family will get some benefits from establishing a business firm such as employment opportunities and monetary rewards.

Besides all four entrepreneur goals mentioned before, other goals are considered secondary. These include making a difference, religious needs, contribution to society, tax advantages, accountable to only yourself and a desire to exploit an opportunity.

1.4 DIFFERENCES BETWEEN AN ENTREPRENEUR AND A BUSINESSMAN

Generally, people will see that both the terms entrepreneur and businessman are synonymous. Both must form a company, start a business, sell products or solutions to customers and pay their dues. But there are some significant differences between these two terms. What is the difference between a business and an entrepreneurship? These terms are commonly used interchangeably.

BUSINESSMAN

ENTREPRENEUR

·         Starts a business from an existing idea or concept ·         Involve in selling- buying activities ·         Has many business rivals ·         Focuses on competition ·         Is always busy on his business “busy-ness” ·         His business gives him a living ·         Traditional ·         Stays safe ·         Worried ·         Profit-oriented ·         Has an active income of profit ·         Hire people to increase business productivity ·         A market player ·         Not a financial freedom type ·         Only gives importance to a part of the business world (atomistic)

·         Starts a business from his own unique idea or concept ·         Involves in self-invention ·         His business rival is himself ·         Focuses on cooperation ·         Is only busy preparing his new enterprise ·         Gives life to his business ·         Innovative and revolutionary ·         Risk taker and accountable ·         Self-satisfaction and success, passion ·         People-oriented (i.e.: employee, customer, public) ·         Has a passive to give them productivity ·         A market leader ·         Has achieved financial freedom ·         Gives importance to the business world as a whole (holistic)

Figure 1.1: Differences between a businessman and an entrepreneur.

Source: Businesstips.ph (2011)

From the comparisons, it can be deduced that being an entrepreneur is not an easy path compared to a business person. An entrepreneur is not an easy path compared to a business person. An entrepreneur is a business person who has evolved into a more complete person who is not simply a business person but a real human being. By being a businessman, a person is being profit oriented, a market player, a business competitor, traditional, as well as a busy and active income earner. In fact, all business owners have gone through all these stages. Even the successful entrepreneurs have gone through all these stages. Even the successful entrepreneurs have gone through the same path before they succeed. It is just that they have taken the right move to evolve into a better and the best businessman that they can be. That is why they have become not only businessman, but rightfully they become entrepreneurs.

1.3 APPROACH OF ENTREPRENUERSHIP

In general, entrepreneurship if often regarded as a multidisciplinary or interdisciplinary field. It involves such fields as economics, psychology, sociology and religious aspect of Islam. In relation to that, approaches of entrepreneurship can be seen in many different perspectives.

The following will discuss on the approaches of entrepreneurship according to different perspectives; economical, psychological, sociological and from the perspective of Islam.

Economical Perspective on Entrepreneurship

The entrepreneurship discipline starts from the perspective of the exchange of goods that takes place to the production in industry. The early theory of entrepreneurship touched on the function and role of entrepreneurs and entrepreneurship in economic development. This is because the concept of entrepreneurship was introduced by economists in the early 18^th century. Most definitions and references of entrepreneurship are from economists such as Richard Cantillon (1725), Adam Smith (1776), JB Say (1803), Joseph Schumpeter (1934) and others who touched on entrepreneurship and its impact on economic development of a community.

Orchard Cantillon, a member of the French company sees entrepreneurship as agents who purchase production equipment’s to produce marketable products that involve speculation and risk. He considers entrepreneurs as economy risk takers. On the other hand, Adam Smith in his book entitled; ‘Wealth Nation’ says that a business owner is seen as a person who builds an organization for commercial purposes. Entrepreneurs are individuals who are able to foresee and identify and peruse business opportunities and respond to economic change. This idea is extended further by an economist from France, Jean Baptiste Say in 1803. According to Say in Armanurah (2014), an entrepreneur is the manager of a business form and plays an important role in the process of production and distribution. Say emphasizes that an entrepreneur is able to influence the society by trying to provide the needs and desires of a community.

Carl Menger, who is also an economist, argues that an entrepreneur is an agent of economy that changes sources to useful products, which leads to the development of the company/ meanwhile, Kirzner links entrepreneurship with uncertainty and explains the benefits that can gained in the economy. According to Kirzner, entrepreneurs act as a middleman in which they will take full advantage of all the opportunities that are presented.

Among the economists, Schumpeter was identified as an economic expert who contributes the most in the field of entrepreneurship. Entrepreneurship model brought by Schumpeter in 1934 sees innovation as the core of entrepreneurial activities where innovation is undertaken by the individual entrepreneur. Schumpeter emphasized that entrepreneurial activities include all activities or operations that led to reforms, including the introduction of new technological processes or new products. He sees entrepreneurs as individuals who are responsible for bringing changes to the economy.

In summary, based on the understanding of entrepreneurship from economic figures, entrepreneurship is the process of creating something different and valuable, while focusing on effort and required energy; enduring the financial risks; psychological and social as well as excepting rewards in the form of wealth and personal satisfaction.

Sociological Perspectives on Entrepreneurship

Entrepreneurship form the sociological perspective explains the social conditions that affect the appearance of an entrepreneur and social factors that influence a person’s decision to become an entrepreneur. From the sociological perspective, it is not necessarily become an entrepreneur. There are many things that can cause a person to be interested in the business world. this is because in the world business, anyone can do whatever he or she wants and acquire anything they desire. Thus there are a variety of reasons and experiences that can encourage someone to venture into the business field. Some of the reasons can be categorized as follows:

·         Family background

Someone who has been involved with the family business or self-employed would be more motivated in the field of entrepreneurship. For example, Bannock and Stanworth (1990) state that; our literature survey and the new data presented here enable us to conclude with confidence that a significantly higher proportion of small business proprietors have self-employed parent compared to other members of the employed population.

·         Religious belief

Encouragement can be found in some religions. For example, Islam encourage its followers to take part in business. This is stated in the saying of the holy prophet (p.b.u.h); “9/10 of the rizq comes from business”. Similarly, the success of the Protestants in economy is due to the teachings of their religion. Another example is the Jews. They are people who have the spirit of entrepreneurship naturally. This nation has been the founders of the economy in some countries like the United States and Britain. Some examples of the companies founded by the Jews are Cadbury, Rowntree, Barclays in Britain.

·         Gender and Birth Order

Sex and birth order said to be linked with the involvement of a person in the field of entrepreneurship. A study by The Times found that 76 percent of the respondents are the only daughter or the eldest child in the family. Same goes with the report by Curran and Burrow (1989) who showed that “self employed females without employees, and to a lesser extent those with employees, tend to come from more privileged social background than their male counterparts.” (M: 376-385)

·         Social Status Hierarchy

Individuals with a low social status often experience rebellious attitude from within their families. Thus, this intrinsically motivated them to venture in entrepreneurship to improve their social status economically and socially. According to the psychodynamic model introduces by De Vries, individuals who did not have the opportunity to enjoy certain facilities during their childhood will be encouraged to rebel and find new alternatives to improve their future.

Psychological Perspectives on Entrepreneurship

From the psychological perspective, entrepreneurship can be seen based on the characteristics and personality traits of an individual who is starting a business. Psychological studies have identified personality and character traits business. Psychological studies have identified personality and character traits that can distinguish between entrepreneurs and non-entrepreneurs.

Some of the traits of entrepreneurs are the need to excel, have locus of control, tendency to take risks, being a leader, being a resource manager, the pioneer of innovative ideas including scientific ideas, an innovator that can apply knowledge to practice (action) through technical and managerial innovations.

A famous psychologist, Mc Clleland (1961) in his theory of “Need of Achievement”, believes that entrepreneurs are motivated people and have high desires to achieve certain goals and prefer working alone to achieve success. This definition is also derived from Schumpter (1934) and Weber’s theory (1965). Schumpter’s theory (1934) stated that an entrepreneur is a leader and they can be developed from within any society. They have certain traits like having an instinctive ability to see what is happening around,, the capacity of mind ability and the will to overcome the conservative way of thinking and the ability to counter social resistance.

Rotter (1966) stated that there are individuals who have the advantage of controlling a situation. He believes that an individual’s success can be achieved if and only if that person trusts his or her own ability and always work hard to acquire greatness. These individuals have a high internal desire to succeed.

Meanwhile, according to Drucker (1986), an entrepreneur is known as a person who is a low risk-taker. This means that the person only considers moderate risks and avoid risks that are irritational. In a nutshell, from the perspective of psychology, entrepreneurs are someone special. They have the ability and desire to achieve a higher goal than other who often failed to obtain that goal.

Islamic Perspectives on Entrepreneurship

Islam is a way of life that recognized entrepreneurship as one of ‘ibadah’ (worship) and it is stated that 90 percent of the rizq comes from the profits of business (Mohd Salleh et al. 2005). From the Islamic views entrepreneurship is highly regarded and a noble field as long as it does nit violate the principles laid down by Islamic legislation (syarak). Business in terms of fiqh is called ‘jual beli’ and in Arabic is calles ‘Al-Buyu’ which is encouraged in Islam as in Surah Al-Baqarah, verse 275 which means “And Allah has permitted trading and forbidden usury (riba)”.

Entrepreneurship is special in Islam as Islam provides a complete and comprehensive model with regard to business. The model provides encouragement for entrepreneurship in business by providing facilities, outlining the rules and guidelines and promising rewards. The encouragement of doing business is being touched in some of the Surahs from the Quran such as Surah Al-Baqarah, verse 198, as well as Surah al-Muzammil verse 20, which have been enelyzed by al-Qardhawi. Al-Qardhawi stated that Allah has provided facilities for humans to be involved in business and trades, and this has been shown by Him in the Quran. Islam also outlines the regulations and changes to ensure that the business is properly run and be beneficial to all. In addition, Allah also promises eternal rewards to entrepreneurs who oblige His Guidelines (Surah al-Faatir verses 29-30).

In general, the concept emphasizes on the faith, aqidah, personal development and does not violate the limits stated by syarak. It is considered as a pursuit of wealth or in general, to find rizq (to make a living).